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Mercedes team principal Toto Wolff is engaged in final negotiations to offload a portion of his ownership stake in the Mercedes F1 outfit.

The deal estimates the Mercedes team at £4.6 billion – a record for a Formula 1 squad – after the McLaren team were valued at £3.5 billion in a change of ownership structure in September.

Wolff, who owns a 33% stake of Mercedes F1, would sell a stake in the region of five percent.

Wolff, aged 53 would stay on as team principal and chief executive officer if the sale goes through.

Ownership Breakdown

Remaining partners in the team are Mercedes and chemicals giant Ineos, who each also own one-third of the enterprise.

An official representative said: "We are providing no comment on the matter. The governance of the team stays unchanged, and each shareholder are fully committed to continued achievements of Mercedes-Benz in F1."

Valuation Increase

The deal signifies a significant increase in worth of Mercedes F1 after Ineos Group acquired its stake for £208 million in 2022.

The rise demonstrates the growth in valuations of F1 teams in the past few years as a consequence of the increasing appeal of the sport around the world.

This was also seen in the success of the Formula 1 film featuring Hollywood star Brad Pitt, which was released last summer and earned over $630 million (£458 million) at cinemas worldwide.

The film represents Pitt's most successful film and the most successful sports movie ever released.

Current Standings

The Mercedes team are runner-up in the constructors' championship, trailing McLaren, with three races left this season.

Their lead driver British driver George Russell has won two of the 21 grands prix so far and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.

Mercedes won a record eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.